The Changing Economic Circumstances of the Elderly: Income, Wealth, and Social Security
AbstractHow is the economic status of the elderly changing and what are their prospects for the future? My portrait tells us how well off they are on average, but also about the vast disparities that exist among them. This description includes an often neglected measure of their economic well-being--the amount of wealth they control. Amazingly little is known about howmuch personal wealth older people have and how and what determines its distribution. But the conventional definition of household wealth ignores two critical components of wealth: the expected income flows from pensions and Social Security. For some elderly households, Social Security represents the largest part of their wealth. I conclude with some thoughts on one of the most sensitive and critical public policy issues--the necessity of reforming Social Security.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Center for Policy Research, Maxwell School, Syracuse University in its series Center for Policy Research Policy Briefs with number 8.
Length: 29 pages
Date of creation: May 1997
Date of revision:
Contact details of provider:
Postal: 426 Eggers Hall, Syracuse, New York USA 13244-1020
Phone: (315) 443-3114
Fax: (315) 443-1081
Web page: http://www.maxwell.syr.edu/cpr.aspx
More information through EDIRC
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Smith, James P, 1998. "Socioeconomic Status and Health," American Economic Review, American Economic Association, vol. 88(2), pages 192-96, May.
- Glenn R. Hubbard & Jonathan Skinner & Stephen P. Zeldes, .
"Precautionary Saving and Social Insurance,"
Rodney L. White Center for Financial Research Working Papers
3-95, Wharton School Rodney L. White Center for Financial Research.
- R. Glenn Hubbard & Jonathan Skinner & Stephen P. Zeldes, 1994. "Precautionary Saving and Social Insurance," NBER Working Papers 4884, National Bureau of Economic Research, Inc.
- Glenn R. Hubbard & Jonathan Skinner & Stephen P. Zeldes, . "Precautionary Saving and Social Insurance," Rodney L. White Center for Financial Research Working Papers 03-95, Wharton School Rodney L. White Center for Financial Research.
- Richard V. Burkhauser & Timothy M. Smeeding, 1994. "Social Security Reform: A Budget Neutral Approach to Reducing Older Women's Disproportional Risk of Poverty," Center for Policy Research Policy Briefs 2, Center for Policy Research, Maxwell School, Syracuse University.
- James Smith & Raynard Kington, 1997.
"Demographic and economic correlates of health in old age,"
Springer, vol. 34(1), pages 159-170, February.
- Smith, J-P & Kington, R, 1997. "Demographic and Economic Correlates of Health in Old Age," Papers 97-06, RAND - Reprint Series.
- James P. Smith & Raynard Kington, 2004. "Demographic and Economic Correlates of Health in Old Age," Labor and Demography 0408008, EconWPA.
- James P. Smith, 2004. "Wealth Inequality Among Older Americans," Labor and Demography 0403003, EconWPA.
- Matilda White Riley, 1998. "The Hidden Age Revolution: Emergent Integration of All Ages," Center for Policy Research Policy Briefs 12, Center for Policy Research, Maxwell School, Syracuse University.
- C. D. Zick & K. Holden, . "An Assessment of the Wealth Holdings of Recent Widows," Institute for Research on Poverty Discussion Papers 1188-99, University of Wisconsin Institute for Research on Poverty.
- Clinton Lively, 2001. "Merrill Lynch & Co.: process risk management program," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
- Jane Sneddon Little & Robert K. Triest, 2002.
"The impact of demographic change on U. S. labor markets,"
New England Economic Review,
Federal Reserve Bank of Boston, issue Q 1, pages 47 - 68.
- Jane Sneddon Little & Robert K. Triest, 2001. "The impact of demographic change on U. S. labor markets," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 46.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kelly Bogart) or (Katrina Wingle).
If references are entirely missing, you can add them using this form.